ANNOUNCEMENT OF A SHARE BUY BACK PROGRAM

The company GR. Sarantis SA announces that the Ordinary General Shareholders Meeting that took place on 30/06/2010 approved a share buyback program through the Athens Exchange and according to article 16 of c.l. 2190/1920 as in force, up to 10% of the company’s shares (the 10% currently represents 3,835,094 shares), including the 2,225,900 shares already acquired by the company based on the resolutions of the General Shareholders Meetings of 02/06/2008 and 11/11/2008. The maximum buy back price was set at seventeen euros (17 €) per share and the lowest at one euro and fifty four cents (1.54 €) per share or the applicable nominal value. The company may acquire own shares up to twenty four months from the date of the General Meeting, that is up to 30/06/2012, in order to improve the company’s earnings and dividend per share, indirectly distribute earnings/return capital to the shareholders as well as for use in a possible partnership or a possible future acquisition. Finally, the Board of Directors was authorized to act accordingly for the completion of the buyback program.